Modern Labor Economics: Theory and Public Policy

●Description
The authors develop the modern theory of labor market behavior, summarize empirical evidence supporting or contradicting each hypothesis, and illustrate the usefulness of various theories for public policy analysis.

●New to this Edition
1.Updated coverage of the latest data and recent events in labor economics is integrated throughout the text.
2.NEW Chapter 5, Frictions in the Labor Market, looks at fixed costs facing employers. It explores the Law of One price, employer side concerns like adding workers or increasing hours, and employee issues such as training.
3.NEW emphasis on empirical evidence. Empirical feature boxes highlight studies and research issues such as natural experiments, cross section, time series, and fixed effects. Empirical issues will be introduced in early chapters, and later chapters will build upon the basic concepts adding complexity as the book progresses.
4.NEW discussion of job training and human capital from the perspectives of employers and employees in Chapter 9.